Speaker 1: Episode one, seven Myths and Truths of Everyday Millionaires with
Speaker 1: Chris Hogan. Welcome to the Frugal Friends podcast, where you'll
Speaker 1: learn to save money, embrace simplicity rights, and live with
Speaker 1: your life. Here your host Jen and Jill dude Do.
Speaker 1: Welcome to the Frugal Friends Podcast. My name is Jen,
Speaker 1: my name is Jail, and we have such a special
Speaker 1: guest for you today, and we are as excited as
Speaker 1: I'm sure you will be. Whenever we get these big
Speaker 1: names on, we always get an uptake in downloads, and
Speaker 1: we are especially excited about this one. Absolutely, he's an
Speaker 1: amazing guy. We're going to intro him soon and you'll
Speaker 1: get to make up your own mind about him. But yes,
Speaker 1: I am excited. Interviews are always my favorite, especially when
Speaker 1: we can talk with authors and some well known people
Speaker 1: in the space of personal finance. I know, because they
Speaker 1: wouldn't talk to us otherwise. This is the way we
Speaker 1: get to get in there with the relationships. So that's
Speaker 1: fun for us. But first our sponsors, we've got the
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Speaker 1: Today's episode is also brought to you by Money. Yes,
Speaker 1: it's what makes the world and this podcast go around.
Speaker 1: There are a few things Money wants the Frugal Friends
Speaker 1: to clear up right now. This is more of a
Speaker 1: p s a for Money. First, Money wants to be
Speaker 1: your friend. She wants to hang out with you, so
Speaker 1: please stop sending her away like she's a door to
Speaker 1: door salesman on a Saturday morning. Second, Money is looking
Speaker 1: for you. She knows you want more, and she's trying
Speaker 1: to bring friends. But when you keep her trap in
Speaker 1: a checking account or we're sending her away, her friends
Speaker 1: will follow her and you won't be able to hang
Speaker 1: out and form that like really great sorority you're planning.
Speaker 1: So please, for Money's sake, keep her nearby and let
Speaker 1: her grow. I'm so proud of you. This is so deep.
Speaker 1: But also, do you get door to door salesman on
Speaker 1: Saturday mornings? Okay, so that's not the first thing I
Speaker 1: wanted to say, But like, who who comes to your
Speaker 1: door on a Saturday morning? And just picture that person? Yeah,
Speaker 1: I would send them away most likely. You're right, You're right, Yeah,
Speaker 1: you would. Yeah, whoever it is, you would send them away?
Speaker 1: Well done. Don't do that with your money. We love
Speaker 1: our sponsors. They're so great. Yes, we love money. You
Speaker 1: know something else that's great and more important is this
Speaker 1: interview with Chris Hogan. So you may know Chris Hogan
Speaker 1: threw a guy named Dave Ramsey over there at Ramsey Solutions.
Speaker 1: We also had Rachel Cruz on our episode one sixteen,
Speaker 1: and we're super excited to have Chriss on today because well,
Speaker 1: he's fun. He's just a lot of fun. He is fun. Yeah,
Speaker 1: we have had the opportunity to meet him several times
Speaker 1: over the last few years, so it's a treat to
Speaker 1: have him on the show. For those who don't know,
Speaker 1: Chris Hogan started his career as a debt collector and
Speaker 1: then became a financial coach because of how many people
Speaker 1: he saw struggling and that's great seeing a need and
Speaker 1: then filling it. So he's now cut to today, two
Speaker 1: time best selling author and one of the most dynamic
Speaker 1: and enthusiastic speakers I've ever heard. Guaranteed you all will
Speaker 1: absolutely fall in love with his voice and hopefully the
Speaker 1: content too. I know one time Chris Hogan was on
Speaker 1: Chris Browning's podcast Popcorn Finance. Oh those are two dynamic speakers.
Speaker 1: I know. You should look up the episode. I'm blanking.
Speaker 1: I don't know what episode number it is, but you
Speaker 1: just search for it on Chris's website and it is
Speaker 1: episode that will blow your mind with like the butteriness
Speaker 1: of the voices, Popcorn Finance Interviews Chris Hogan, No home man.
Speaker 1: If you need to pick me up, there you go.
Speaker 1: But we're excited to specifically talk to Hogan about millionaires
Speaker 1: because I imagine right now, more than ever, people are
Speaker 1: discouraged about their finances and trying to just get stable,
Speaker 1: not even thinking about becoming a millionaire. But I promise you,
Speaker 1: when you shift your mindset to believe you're a millionaire
Speaker 1: waiting to happen, things change. And so we want to
Speaker 1: help you make that shift today as much as possible.
Speaker 1: So we're going to talk about what a millionaire is.
Speaker 1: We're going to debunk a few myths that might be
Speaker 1: holding you back from believing wealth is possible for you.
Speaker 1: And we don't want you to settle like we want
Speaker 1: you to build wealth because if you're listening to this,
Speaker 1: you're probably a good person and we need more good
Speaker 1: people to be wealthy. If on me. So like, we're
Speaker 1: going to talk about money mindset more in a few weeks,
Speaker 1: so get comfy with that. But we're starting today with
Speaker 1: talking about millionaires and and why it is attainable. Let's
Speaker 1: do it. Let's get into it. Let's do it. Welcome
Speaker 1: Chris Hogan to the Frugal Friends podcast. Well, thank you,
Speaker 1: it's a pleasure to be with you all. We are
Speaker 1: thrilled to have you. Both John and I have had
Speaker 1: the opportunity to meet you in person in the past
Speaker 1: and that's better of course, but you know, in the
Speaker 1: age of COVID through zoom and through podcast works too,
Speaker 1: so we are excited to chat more. Well, thank you,
Speaker 1: thank you. I'm looking forward to it. We want to
Speaker 1: talk about millionaires today, this subject that feels unattainable for
Speaker 1: many people, but we want to kind of shift some
Speaker 1: mindsets with your help today, Chris, and so to start off,
Speaker 1: we know that this this is a big area of
Speaker 1: expertise for you. You talk about being an everyday millionaire
Speaker 1: and investing and building wealth and all of these things.
Speaker 1: So we're excited for your expertise. But to begin, can
Speaker 1: you describe for us what is a millionaire, what would
Speaker 1: qualify someone as a millionaire, and why is this a
Speaker 1: good aim? Well, and looking at it there, you're right,
Speaker 1: this is a big topic. There's a lot of conversation
Speaker 1: out about it, and really digging in, I wanted to
Speaker 1: help people to understand what it was and how you
Speaker 1: can get there. And so for me looking at it,
Speaker 1: it's all boils down to taking what you own, all
Speaker 1: of the items your four one K, the money in
Speaker 1: your bank, your cars, the equity in your home, all
Speaker 1: the things that you own minus what you owe anything
Speaker 1: that you have that on. And so if you take
Speaker 1: what you own minus what you owe that in number,
Speaker 1: if that is a million dollars and more than congratulations,
Speaker 1: you're an everyday millionaire. So it becomes this thing just
Speaker 1: to look and to be able to track. And so
Speaker 1: you know, for me, it was one of those things
Speaker 1: and understanding. I grew up in Kentucky in a small town,
Speaker 1: and so you know, in my mind growing up, it
Speaker 1: was you had to be a pro athlete or an
Speaker 1: entertainer or an actress or something in order to be
Speaker 1: able to hit that. Or you have to be born
Speaker 1: into money, right, you have to come from wealth in
Speaker 1: order to be able to establish it. And so we
Speaker 1: set out just to to to set the record straight
Speaker 1: and to help people know the truth. Yeah, it's a
Speaker 1: simple formula, and I think a lot of complicated concepts
Speaker 1: can be simplified and then can help us. I think
Speaker 1: when it feels so unattainable, not that easily understood. That's
Speaker 1: when we think, well, that's not for me, but just
Speaker 1: to know, in its simplest form, this is what it is.
Speaker 1: Why do you think this is a good aim for somebody? Well,
Speaker 1: I don't think, you know, I don't think it's necessarily
Speaker 1: something that someone everyone has to aim for that, right,
Speaker 1: But I do think it's important for us to be
Speaker 1: aware of that. At the end of the day, we
Speaker 1: want to be able to take care of ourselves. We
Speaker 1: want to also be able to provide for the people
Speaker 1: that we love the most, and we also want to
Speaker 1: be able to give, right, giving is the best thing
Speaker 1: that you could ever do with money. And so being
Speaker 1: able to look at this and understand it's not so
Speaker 1: much that everyone needs to have that as a goal.
Speaker 1: We're all wired a little bit different, but in looking
Speaker 1: at it and helping people to understand that it is
Speaker 1: something that can be obtained and that more regular, everyday
Speaker 1: people are in this category of a millionaire than people believe.
Speaker 1: And so everyone thinks it's got to be the lady
Speaker 1: that's dressed in the Armani suit, you know, leaning on
Speaker 1: the fancy car and from the big house, and so
Speaker 1: we set out to set the record straight. We did
Speaker 1: the largest study that's ever been done. We talked over
Speaker 1: ten thousand of them, all across the country because I
Speaker 1: wanted people to know the truth. And it's not about
Speaker 1: a high paying job. It's not about being born into it.
Speaker 1: It's not about an inheritance. It's about hard working people
Speaker 1: that are investing and being intentional with their money over time. Yeah,
Speaker 1: at least not being upside down with your finances. At
Speaker 1: least being in the red or i'm sorry, in the black.
Speaker 1: Not in the red. I just like that color. I
Speaker 1: do too, but not financially right. But but it's possible.
Speaker 1: And you know, the inside the book that I did,
Speaker 1: Everyday Millionaires, the stories in there. Now, I love the statistics.
Speaker 1: You know, you talked over ten thousand people. It's a
Speaker 1: serious research project, and I love the information that I
Speaker 1: provided from that statistics and just in the research. But
Speaker 1: the stories in the book, these stories are the thing
Speaker 1: that touched my heart because you're talking about people that
Speaker 1: were once homeless, people that were born into severe poverty,
Speaker 1: or people that didn't come from nothing, and so they
Speaker 1: worked over time. It was about the dream they had
Speaker 1: in their heart, about what they wanted to do, and
Speaker 1: they said, you know, I want to be intentional with
Speaker 1: my money too. So it's not some mystic cloud or
Speaker 1: it's not a country club that you have to be
Speaker 1: invited to join. It has to be a mission and
Speaker 1: a level of focus that you have for your health.
Speaker 1: I think what you're describing is making it attainable for people,
Speaker 1: and we connect with stories, and we connect with real
Speaker 1: life experiences and realizing, oh, it's not just the small
Speaker 1: group of people that I've had in my mind as
Speaker 1: far as who this describes. It's a lot of different people.
Speaker 1: It's attainable, and that can really help to shift the
Speaker 1: mindset to say, oh, this doesn't have to be my
Speaker 1: life forever. There are steps that I can take to
Speaker 1: be aimed at even generosity, what a much better aim.
Speaker 1: And thanks for laying that foundation not just to build
Speaker 1: up my own wealth, but for the purpose of caring
Speaker 1: for those around me. That's exactly right. Well, I mean,
Speaker 1: if you even look in the Bible, you know there
Speaker 1: are so many scriptures over eight hundred about money. Money
Speaker 1: is a tool, right, and just like any other tool
Speaker 1: that can be used to hammer or nail, these are
Speaker 1: things that are used to build, and so money is
Speaker 1: that as well. I mean the story of the good Samaritan, right,
Speaker 1: if this individual didn't have money and didn't have marchin,
Speaker 1: he doesn't get to become the good Samaria town that
Speaker 1: steps in to help someone that was in need. And
Speaker 1: so it's it's just a matter of perspective, and I'm
Speaker 1: glad you hit on the belief part. It's one of
Speaker 1: the things that I really hit on. You have to
Speaker 1: believe that it's possible for you. And if you think
Speaker 1: you had to have it handed to you from an inheritance,
Speaker 1: and if you didn't come from a family of money,
Speaker 1: then you automatically exclude yourself from even potentially joining that group.
Speaker 1: Or if you think you have to have a high
Speaker 1: paying job, you don't, or if you think you had
Speaker 1: to go to some fancy school and you didn't. So
Speaker 1: then you know, I wanted to chop down these myths
Speaker 1: so people could see the truth and then begin to
Speaker 1: decide for themselves what do I believe as possible and
Speaker 1: then what am I going to work to strive to
Speaker 1: And that's really what it boils down to. We want
Speaker 1: to actually dive into a few of these myths a
Speaker 1: little deeper, because I do think that these these mindsets
Speaker 1: and these myths are a big block to people achieving
Speaker 1: this because it prevents them from even starting. Yes, So
Speaker 1: the smith we want to talk about is that wealthy
Speaker 1: people get lucky and make risky investments. What have you
Speaker 1: found to debunk that? Well, first of all, it's not
Speaker 1: true in reality what these individuals did. They weren't into bitcoin,
Speaker 1: these millionaires, they weren't doing these No, they were not. No,
Speaker 1: they didn't. They didn't do these things. They were people
Speaker 1: that were using employer sponsored retirement plants four one case,
Speaker 1: four or three vs. Raw thrase and iras. That's what
Speaker 1: they used. Almost of them said that was the number
Speaker 1: one tool that they used to be able to build wealth.
Speaker 1: I say this because I hear about bitcoin, and I
Speaker 1: hear about cryptocurrencies and all these things, and people believe that, hey,
Speaker 1: I've got to take this crazy risk in order to
Speaker 1: build wealth. And what ends up happening is you take
Speaker 1: this crazy risk and you end up losing more money
Speaker 1: or unfortunately, as I've seen people going into debt for
Speaker 1: these things. And so it's important for people to understand
Speaker 1: it's not about the risk investments and Honestly, it's about
Speaker 1: the boring, typical slow things, using the four oh one K,
Speaker 1: the four or three B and raw iras. So that's
Speaker 1: really the secret. It's amazing that you say that I
Speaker 1: found myself in a lounge at an airport talking with somebody.
Speaker 1: We we made it there because of our frugal lifestyle.
Speaker 1: Others made it there because of the debt that they
Speaker 1: want to wrack up on their credit cards. Either way,
Speaker 1: we were there together in this room. And this this
Speaker 1: gentleman worked for a financial investment firm, a large financial
Speaker 1: investment firm. He himself was not able to do some
Speaker 1: of these risky investments. Your typical rath I RA A
Speaker 1: S and four oh one case was all he could
Speaker 1: do so that he wasn't getting himself into precarious legal situations.
Speaker 1: But he said that is the case for the wealthy
Speaker 1: millionaires that he worked with. I'm just affirming what you're describing, Chris,
Speaker 1: that all of those people got there from usually the
Speaker 1: traditional route. It wasn't a result of these random You've
Speaker 1: got to be a brain surgeon to understand what you're
Speaker 1: even looking at. It was this very traditional, slow and
Speaker 1: steady way of investing and that's what got them to
Speaker 1: their position of wealth. It really is, and it's so true.
Speaker 1: So if almost eighty percent of these millionaires you use
Speaker 1: those things. Another stat that really jumped out is almost
Speaker 1: seventy of them utilize an investment professional in their life.
Speaker 1: So that means they weren't going it alone, right, they
Speaker 1: were getting with someone that had knowledge that they didn't
Speaker 1: have to be able to guide them. And I was
Speaker 1: so grateful that that's that ring true because that's one
Speaker 1: of the things I talked about on my show is
Speaker 1: that I'm wanting people to go sit down with someone,
Speaker 1: let them review your four oh one K or your
Speaker 1: four or three B look at the way that you're invested,
Speaker 1: so you can get some knowledge that you don't have.
Speaker 1: I found small tweaks can lead to big gains when
Speaker 1: you have the right knowledge. Yeah, it's the hair and
Speaker 1: the not the slotor us in the hair. That's yes,
Speaker 1: that's what we're talking about. Jill, come out with a
Speaker 1: boy next book. I think people might buy and you
Speaker 1: never know, we can sell this thing with some good artwork.
Speaker 1: So the second myth that a lot of people buy
Speaker 1: into is that rich people have high paying jobs or
Speaker 1: high level positions, and that's how they get to their
Speaker 1: place of wealth. What do you say to that, Chris,
Speaker 1: all right, I'm getting ready to chop fees two downs
Speaker 1: as well. Let's start with the high paying job, right.
Speaker 1: People believe you've got to have a six figure income
Speaker 1: and war in order to become a millionaire. One of
Speaker 1: the guys that I've talked to over the years, his
Speaker 1: name is Frank. Frank worked his tail off. He never
Speaker 1: made over sixty eight thousand dollars a year in his life, okay,
Speaker 1: and by the time that he retired, he was a multimillionaire.
Speaker 1: Never made over sixty eight thousand. But let me tell
Speaker 1: you this one. A third we talked over ten thousand. Again,
Speaker 1: A third of the millionaires that we studied never had
Speaker 1: a six figure household income. Hold on a minute, I
Speaker 1: said household. That meant if they were both working combined together,
Speaker 1: they didn't make six figures. Okay. This is really important
Speaker 1: for people to hear, because you'll look at your income
Speaker 1: and say, well, I'm only making fifty or fifty six
Speaker 1: or sixty, and then you automatically think, well, it's not
Speaker 1: available for me to become a millionaire. No, it actually is.
Speaker 1: It's not about how much you make, it's what you're
Speaker 1: doing with the money that you do make. And when
Speaker 1: we had it tied up to consumer debt, the average
Speaker 1: person has around thirty five thousand and consumer debt thirty
Speaker 1: seven five in student loan debt on average. And so
Speaker 1: if we can free up our money, what it does
Speaker 1: is that allows us to be able to invest, so
Speaker 1: we can grow it the right way. Now, let's talk
Speaker 1: about positions. I was excited to see this that because
Speaker 1: I wanted to know what are the jobs of these millionaires?
Speaker 1: What do they do? Number one, the number one job
Speaker 1: of these everyday millionaires was engineer. Okay, and I didn't
Speaker 1: surprise me because engineers planned things. I was like, okay,
Speaker 1: that makes sense. Number two were accountants. Well, okay, then
Speaker 1: you know how money works. They know how to count,
Speaker 1: they know how to plan. That's great. The third one
Speaker 1: shocked me. The third one was teachers. What Yeah, school teachers,
Speaker 1: college professors, teachers, now YouTube, and I know these are
Speaker 1: the that teachers are the most underpaid profession out there. Right,
Speaker 1: they're dealing with these kids. I mean, that's a lot
Speaker 1: going on. Social work just got to make my plug.
Speaker 1: That's exactly right as well. And so you look at
Speaker 1: this and you go, well, how how in the world
Speaker 1: are teachers on there? You know, doctors and attorneys they
Speaker 1: were in the top ten, but they didn't make the
Speaker 1: top five. And so after teachers, you had managers of
Speaker 1: all types, whether you're a manager in a department store,
Speaker 1: you're a manager in a grocery store. So in it's
Speaker 1: not about some high salutant job with some super high income.
Speaker 1: And so I want people to know this because it
Speaker 1: helps them to understand that it's possible for them to
Speaker 1: and I think that was the thing that I really
Speaker 1: loved about the book, is helping people to debunk these
Speaker 1: myths so you can see the truth and then you
Speaker 1: make a decision for yourself. Chris, I've got to be honest.
Speaker 1: I think a lot of what you're saying is scary.
Speaker 1: And let me explain, because if you take away my
Speaker 1: excuses to not do better and aim higher with my finances,
Speaker 1: it's that the devil that you know is better than
Speaker 1: the devil that you don't know. I'm comfortable having my
Speaker 1: excuses and living the way that I want to live,
Speaker 1: imagining that this is not attainable for me. But then
Speaker 1: to hear your words and saying there are a good
Speaker 1: portion of people. There is a third of people out
Speaker 1: of the people that you have interviewed who are everyday millionaires,
Speaker 1: who don't make six figure salaries within their household and
Speaker 1: are not in high level positions. I mean, what does
Speaker 1: that mean for me? That calls me to a higher
Speaker 1: level of accountability with my finances, and there's a little
Speaker 1: bit of of concern. It's scary to then say, well,
Speaker 1: now what does this mean? And now that I know
Speaker 1: not knowledge is power, but there's also responsibility with it,
Speaker 1: then well, you're exactly right. And I would want people
Speaker 1: as they hear it, I don't want it to be scary.
Speaker 1: I do want it to be startling, right. I want
Speaker 1: you to go, well, wait a minute, if they can
Speaker 1: do it, right, if Frank who had never made more
Speaker 1: than sixty eight thousand, can do it, then what's my excuse?
Speaker 1: And you're absolutely right. I want to take the excuses
Speaker 1: off the table, right. And I'm a former athlete, and
Speaker 1: so I'll never forget one of my coaches obviously young.
Speaker 1: I'm seventeen years old on a college campus in college
Speaker 1: and we were doing a scrimmage and I missed the
Speaker 1: tackle and he called me over and he got my
Speaker 1: name wrong. For the first six months I was there,
Speaker 1: he called me Curtis. Okay, people, my name is Chris.
Speaker 1: Funny about it is. It happened so much that I
Speaker 1: started answering to it, right if I Curtis get over here.
Speaker 1: And I was like, good lord, here he goes again, right,
Speaker 1: and he goes, why didn't you make that tackle? And
Speaker 1: I was like, coach, the man was holding me. The
Speaker 1: referee didn't throw the flag, and he just looked at
Speaker 1: me with disgust. After I rambled for like two minutes
Speaker 1: with my excuses, and he looked at me and he said,
Speaker 1: an excuse is the skin of a lie wrapped with
Speaker 1: a reason. He said, I'll go over there and sit down,
Speaker 1: and I went over and he came over a few
Speaker 1: minutes later, he goes, Curtis, remember what I told you?
Speaker 1: And I laughed and I go, Coach, you said something
Speaker 1: about skin lies. I don't know, dude. He said, an
Speaker 1: excuses the skin of a lie wrapped with the reason.
Speaker 1: Then he bent down and looked an eye and he said, son,
Speaker 1: don't make excuses, make place right. It was a grow
Speaker 1: up moment. For me and in looking at it too
Speaker 1: often times we can make excuses. And I don't mean
Speaker 1: that people don't have some tough things to overcome. I'm
Speaker 1: not saying that we all have different start points, some
Speaker 1: people have some legs up over others. The goal is, though,
Speaker 1: is we're running the same race. And it's like in
Speaker 1: the Tortoise and the Hair, you get an opportunity to
Speaker 1: determine your speed and what you're running towards. And so
Speaker 1: it's a matter of us making a decision. We have
Speaker 1: to let go of some things. We have to let
Speaker 1: go of victim thinking. Right, this is something that's prevalent
Speaker 1: in our society right now that if I hadn't done
Speaker 1: something or read something, that I gotta find somebody to
Speaker 1: blame because it's gonna make me feel better, right, Or
Speaker 1: or I can talk about the family that I came
Speaker 1: from and and that you know, well they didn't teach
Speaker 1: me and I didn't know. Okay, that's great, But now
Speaker 1: you can as an adult I talked about in the book,
Speaker 1: you don't need your parents permission slip anymore. You don't
Speaker 1: need them to sign it for you to go on
Speaker 1: the field trip like you did in fourth and fifth grade.
Speaker 1: As an adult, you get to sign that permission slip
Speaker 1: with your effort every day. So guess what the balls
Speaker 1: in your court? Now, make a decision. And if you
Speaker 1: guys have my book, if you don't have it, I'll
Speaker 1: send it to you. But I want you to do something.
Speaker 1: I want you to take the cover of the book off,
Speaker 1: and I want you to see the secret message in there,
Speaker 1: so right on the front, and it firmly affirms what
Speaker 1: I'm talking about that I believe people can do this.
Speaker 1: I just think with the right information, the right belief system,
Speaker 1: and then taking the right actions starting today. Don't look
Speaker 1: back to five and six years ago. We can't go
Speaker 1: back and do anything about that. But I can't control
Speaker 1: this day. And it's called a present for a reason,
Speaker 1: because it's a gift. We have to be able to
Speaker 1: make decisions for ourselves and our future. Right now, Can
Speaker 1: I just get a pep talk from you about every week? Ultimately,
Speaker 1: what I'm hearing from your mouth, Chris, is hope that yes,
Speaker 1: there's a calling up to a higher standard. There is
Speaker 1: adult thinking and living and behaving that we need to
Speaker 1: implement with our finances. But ultimately you're describing hope and
Speaker 1: we all need that. We all need that right now.
Speaker 1: You know, as a company, I've been a part of
Speaker 1: Ramsey Solutions for fifteen years now and so I've had
Speaker 1: the opportunity to work side by side with Dave and
Speaker 1: this company. That's what our company is about, is and
Speaker 1: whether it's helping people bring hope into their financial situation,
Speaker 1: helping young people with our foundations curriculum begin to learn
Speaker 1: this stuff early, whether it's with our smart Dollar program,
Speaker 1: helping people have hope inside of the job market the
Speaker 1: place where their work, or if it's us given hope
Speaker 1: inside of leadership with Entree Leadership. That's what we're about,
Speaker 1: and we feel like if we can put that message
Speaker 1: out for people and you hear it enough, hopefully as
Speaker 1: I travel across the country and speak or I used
Speaker 1: to I'm doing a whole lot of zooms now, ladies,
Speaker 1: but traveling across the country, that you can get people
Speaker 1: to hear it and say I can do this, and
Speaker 1: and that's really our goal. Absolutely, let's touch a little
Speaker 1: bit on our last minute about that starting one that
Speaker 1: people start from. So the third one is that millionaires
Speaker 1: come from wealthy families. What do you have to say
Speaker 1: about that. We found that almost of the millionaires didn't
Speaker 1: inherit a nine. You know, you look at that and
Speaker 1: you realize these are all people that were first generation millionaires.
Speaker 1: It wasn't handed to them, like I said, the people
Speaker 1: that were homeless, or the people that came from really
Speaker 1: tough backgrounds growing up. One gentleman lived in several different
Speaker 1: foster care homes growing up. His mom had some mental issues,
Speaker 1: his dad was an alcoholic. But this young man still
Speaker 1: pushed himself and went to the army, came out when
Speaker 1: and got his degree and as a teacher, and retired
Speaker 1: with the net worth of three point five million dollars.
Speaker 1: And so it's not about it being handed to you.
Speaker 1: It's not. It's about you making a decision about what
Speaker 1: do you want. And I'm the father of three boys,
Speaker 1: and I know what I want from my boys, and
Speaker 1: I know what I want from my great great great grandkids.
Speaker 1: One day is that it started with me. I'm the
Speaker 1: one that's responsible for this. And just like the Vanderbilts,
Speaker 1: the Roosevelts, the Rockefeller's, the Marriott's, the Hilton's, someone had
Speaker 1: to have a dream big enough right and have to
Speaker 1: be willing to make the sacrifices to chase it, and
Speaker 1: I want more and more people doing that. I firmly
Speaker 1: believe that's the way we heal this nation. Get enough
Speaker 1: of us on a firm foundation that we can reach
Speaker 1: back and be able to help people that are in need,
Speaker 1: and we can continue to do that without strings attached,
Speaker 1: because we don't have debts trapped around our hearts. All
Speaker 1: of these are yes, and that that maybe wealthy people
Speaker 1: did get lucky. Maybe there are some people who are
Speaker 1: millionaires who do make six figures every year, and maybe
Speaker 1: there are millionaires who come from wealthy families, but that
Speaker 1: is not only the people who represent millionaires. That does
Speaker 1: not have to limit us in our thinking and in
Speaker 1: the way that we manage our finances. That this is
Speaker 1: possible for us. Yes, yes, you know what else is possible,
Speaker 1: something that is amazing and we get to do every week.
Speaker 1: It's the bill that's right. It's time for the best
Speaker 1: men your entire week. Maybe a baby was born and
Speaker 1: his name is William. Maybe you paid off your mortgage,
Speaker 1: maybe your car died, and you're happy to not have
Speaker 1: to pay that bill anymore. That bill, Bill, Bill Clinton,
Speaker 1: This is the bill of the week. Where are all right,
Speaker 1: I'm a little nervous right now. So what is this
Speaker 1: bill of the week thing? Alright, Chris, So every week
Speaker 1: we invite a listener or our guest onto the show
Speaker 1: to give us their favorite bill, so our intro music
Speaker 1: that you didn't sadly not get to hear. Give some examples,
Speaker 1: you know, like the Buffalo bills or duck bills. Baby's
Speaker 1: named Bill, you know whatever, anything bill related. It can
Speaker 1: be a bill you paid off. Alright, alright, so my
Speaker 1: favorite bill, all right, I'm gonna change this up. I'm
Speaker 1: gonna go with a person. My favorite bill is Bill Cronin.
Speaker 1: Bill Cronin was one of my foot ball coaches from
Speaker 1: back in college. Was an incredible encourager, was a gentleman
Speaker 1: that didn't let you make excuses. He wanted you to
Speaker 1: be a part of a team and understand your role.
Speaker 1: But he always was pushing us to get better. And
Speaker 1: I'm so grateful for men like him, and teachers that
Speaker 1: I had, and my family members that saw more in
Speaker 1: this little country boy than maybe I saw it myself.
Speaker 1: And so he is, without a doubt my favorite bill
Speaker 1: that as an encourager and an educator and a coach.
Speaker 1: He strived to help us young people get better. That's amazing.
Speaker 1: I love that and I think so much we see
Speaker 1: this when it comes to finances. We are whole people
Speaker 1: and we need to be in relationship. We need those encouragers.
Speaker 1: We need community around us to be able to aim
Speaker 1: at these things of generosity and being in the black
Speaker 1: and our finances. And it sounds like Bill was one
Speaker 1: of those people for you who really invested. It's amazing,
Speaker 1: without a doubt. No, you're right. We we definitely don't
Speaker 1: need to do this stuff alone. Life is about community,
Speaker 1: and I know this pandemic has been extremely challenging for
Speaker 1: a lot of people right now. I just want to
Speaker 1: encourage people to reach out and ask for help. If
Speaker 1: you're struggling with something, don't let our Western mentality of
Speaker 1: just grinning and bearing it or pulling ourselves up our
Speaker 1: bootstraps on your own and just throwing your shoulders back
Speaker 1: and fixing it. No, reach out and get some help.
Speaker 1: And if it's financial, reach out, if it's with marital
Speaker 1: situations or relationships, get some help or mental issues. You know,
Speaker 1: we got to reach out. Let's become the best version
Speaker 1: of ourselves that we can because that means we get
Speaker 1: a chance to help someone else, either with the story
Speaker 1: of what we've overcome or what we've battled, or us
Speaker 1: chasing down our dreams. Either way, we're writing a story.
Speaker 1: So pick up your pen and keep writing. Right, We're
Speaker 1: gonna have obstacles, We're gonna have challenges in life. It's
Speaker 1: not that we stopped. That's how we got through it,
Speaker 1: over it or under it. That's where we show that
Speaker 1: we survived and thrived. Amen. Yes, we need to have
Speaker 1: like Chris Hogan like inspirational phrase of the week starting well,
Speaker 1: I appreciate it. I just I have been the recipient
Speaker 1: of so many people pouring into me that I feel
Speaker 1: that that's the call on my life is to encourage
Speaker 1: other people. And you know, I want your listeners out
Speaker 1: there to know, regardless of where you are today, it
Speaker 1: doesn't have to be where you end up. Right where
Speaker 1: you are right now doesn't have to be where you
Speaker 1: end up unless you stop. So do yourself a favor.
Speaker 1: Don't stop, like keep pushing forward because better is available.
Speaker 1: And now it's time for the lightning round. Yes, that's
Speaker 1: my favorite Lightning Round introductions we've ever had. Usually I
Speaker 1: try to make my own noises into the microphone, but
Speaker 1: always yeah, it's always uncomfortable for me. Well, today's lightning
Speaker 1: round is called if I were a rich girl. So
Speaker 1: we are all going to take turns and say one
Speaker 1: thing that you can't You just can't justify buying now,
Speaker 1: but you definitely get it. If money were no object, Okay,
Speaker 1: I don't have to be a girl, do it? No, No,
Speaker 1: have might be a little bit of a stretch for you. Yeah, yeah,
Speaker 1: so you YouTube, Okay, I get to ask. I'm gonna
Speaker 1: flip the thing, Jill, if you were a rich girl
Speaker 1: in money were no object. Hopefully this can count. It's
Speaker 1: something that my husband wanted to buy. This is a
Speaker 1: very recent, very raw example. My husband found a used
Speaker 1: water feature originally from restoration hardware this past weekend on
Speaker 1: Facebook Marketplace. We just bought a new home and he's
Speaker 1: been talking about wanting to have a massive water feature
Speaker 1: inside in our living room. He's amazing and he has
Speaker 1: visions and usually I support them, but this time it
Speaker 1: was a hard note and it took no thought for me.
Speaker 1: If money were no object, if I were a rich girl,
Speaker 1: I definitely would have said, of course. It took no
Speaker 1: thought that is not what we're spending three fifty dollars
Speaker 1: on it. Of course, then led to some marital tension,
Speaker 1: so we you know, we moved through it. But I
Speaker 1: do think if I were a rich girl, it could
Speaker 1: have saved some marital tension from happening. All right, very good,
Speaker 1: very good? Okay, Jan, if you were a rich girl
Speaker 1: in money were no object. What are you buying? I'm
Speaker 1: buying the Aldi Wine Advent Calendar. It's twenty four half
Speaker 1: bottles of wine in an advent calendar, yes, and it's
Speaker 1: like seventy bucks. And I can't say I drink enough
Speaker 1: wine to actually get through it. And my husband doesn't
Speaker 1: drink wine at all, so I can't feel right about
Speaker 1: buying it. But if I were a rich girl and
Speaker 1: had all the money in the world, I would get
Speaker 1: that Aldi Wine calendar every year. So we got water
Speaker 1: feature for Jill and an Advent calendar for Gin that
Speaker 1: has wine involved. We could just pair of it too,
Speaker 1: and we could turn the water into wine and we're done.
Speaker 1: And if we put those two together, we're not at five.
Speaker 1: I'm disappointed in you. I'm disappointed. So listen, all right,
Speaker 1: why did you ask me the question? Chris? If you
Speaker 1: were a rich girl and money were no object, what
Speaker 1: would you buy? All right? If I was a rich dude,
Speaker 1: we're gonna change, money was no object. I am buying
Speaker 1: a Harley Davidson road King we're talking about. It's around
Speaker 1: twenty four thou dollars. That's what I would buy. I
Speaker 1: outdid you both? The difference between Chris Hogan and us
Speaker 1: is that he has class. But I can't justify that.
Speaker 1: But in my mind when I see them riding around,
Speaker 1: I picture my hair blowing. Well, I don't have hair,
Speaker 1: my beard blowing in the If you were a rich
Speaker 1: girl though, hair too? Yeah? Goodbye hair? Oh amazing. Thank
Speaker 1: you so much, Chris for hanging out, having some fun
Speaker 1: with us talent debunking these myths. Where can people get
Speaker 1: more from you? Because we know they want your content
Speaker 1: and your voice, let's be honest. Well, I appreciate it.
Speaker 1: This has been a blast, you too. Thank you for
Speaker 1: having me. If people want more information about dealing with money,
Speaker 1: retiring with dignity, or wanting to build wealth, you can
Speaker 1: learn more by going to my website Chris Hogan three
Speaker 1: dot com. That's Chris Hogan three zero dot com. Awesome, amazing,
Speaker 1: thanks so much, thanks for being here. Absolutely, thank you
Speaker 1: all so much. Man, that was good. He's such a
Speaker 1: joy to talk to, not only in his amazing soundbites
Speaker 1: that we could probably in calligraphy on some signs in
Speaker 1: our house, but also yeah, just his down to earth nature.
Speaker 1: And I mean I've already said it. I just I
Speaker 1: really enjoy his radio voice. So yeah, it's just all
Speaker 1: around a win win win win win. So but he's
Speaker 1: not just a pretty voice, Chill, I know that. That's
Speaker 1: why I highlighted the other things. First, he's not just
Speaker 1: a rich girl. He's not a rich girl, Chill. I know.
Speaker 1: He's a rich dude, a wealthy dude aimed at generosity,
Speaker 1: which is amazing. So we hope that this episode was
Speaker 1: encouraging for you all, that you feel one step closer
Speaker 1: to shifting your mindset about what might be attainable for you.
Speaker 1: And it's scary, and that's why we're here for you.
Speaker 1: The Frugal Friends community. Join us in our Frugal Friends
Speaker 1: community group on Facebook. Chat more about this topic. Let's
Speaker 1: talk about our wise behind even aiming at being at
Speaker 1: in the black and our finances how we might be
Speaker 1: able to get there even on some of those smaller
Speaker 1: salaries like Chris was describing, so thanks so much for listening.
Speaker 1: We want to thank you for your kind reviews on
Speaker 1: iTunes and Stitcher like this one. It comes from Underscore
Speaker 1: The Alligator. That's awesome. Alligator like that. Titled practical and fun,
Speaker 1: it happens to be five stars they usually are. I
Speaker 1: never thought I would say this, but this budget podcast
Speaker 1: is fun. They make tough issues that are often stressful
Speaker 1: for me so lighthearted and fun. I also love that
Speaker 1: all of their suggestions are practical. So many budget blogs
Speaker 1: and podcasts make suggestions like growing your own food, harvesting
Speaker 1: your own eggs from pet chickens, and making your own
Speaker 1: laundry detergent as money saving tips. The ideas are nice,
Speaker 1: but they're not practical for our fast paced life. Frugal
Speaker 1: Friends gives practical tips and view time as money, which
Speaker 1: it is so thankful. I found this podcast and I
Speaker 1: can't wait to keep listening. Yes, the Alligator, you know us.
Speaker 1: We are so glad to have you part of this community.
Speaker 1: Looks like I'm taking that grow your own food episode
Speaker 1: out of the lineup. Pet chickens might be fun, but
Speaker 1: I'm also taking the pet chicken episode out whatever. I
Speaker 1: am impressed by people that can keep pets, especially pets
Speaker 1: that lay eggs that you can eat. That's that's cool
Speaker 1: for them. It's cool, it's awesome. One day I would
Speaker 1: love to be one of those people. I would absolutely
Speaker 1: love to be one of those people, but I cannot,
Speaker 1: So thank you so much, Alligator. We also want to
Speaker 1: thank our friends who share these episodes on social media.
Speaker 1: So when you share the latest episode and tag us
Speaker 1: on Facebook or Instagram, we're adding you to our monthly rying.
Speaker 1: For every five tags and reviews we get every month,
Speaker 1: we're giving away a copy of the Frugal Friends workbook.
Speaker 1: You heard us mention it at the top of the episode.
Speaker 1: It's really great. Yep, yep. You want that. So whether
Speaker 1: you buy it or you win it, it's going to
Speaker 1: be great. So keep leaving us reviews on iTunes or Stitcher,
Speaker 1: send us a screenshot of that review to our email
Speaker 1: Frugal Friends podcast at gmail dot com. That will enter
Speaker 1: you into that monthly drawing. And still don't forget to
Speaker 1: tag the latest episode on social Yes and we will
Speaker 1: see you next week. By Frugal Friends is produced, edited
Speaker 1: and mixed by Eric Sirian Jill, how did it make
Speaker 1: you feel when um our rich life purchases, you don't
Speaker 1: go less than five dollars? Think about it. It was
Speaker 1: no object. I would buy a box of wine for
Speaker 1: seven a whole box of wine with like forty eight
Speaker 1: glasses of wine, which is like, yeah, a few bottles
Speaker 1: of wine for dollars is amazing. That I think goes
Speaker 1: to show the type of it's not sacrifice is a
Speaker 1: bit dramatic, but how we have tempered ourselves in the
Speaker 1: areas that we choose to cut so that we can
Speaker 1: spend in other areas. And I think ultimately the reason
Speaker 1: I shared mine, which is even still like ten times
Speaker 1: the amount that yours was not really four times. I
Speaker 1: can do maths. That's still a decent amount of money.
Speaker 1: But ultimately it would have been great because I wouldn't
Speaker 1: have had to um experience tension with my husband over that. Yeah,
Speaker 1: Eric is a rich girl and he has all the
Speaker 1: answers for you on what er, So there's still tension
Speaker 1: when there's money. There's actually probably more attention when there's money.
Speaker 1: So I'm not trying to act like that would solve
Speaker 1: all of our problems. I just thought it was so funny, like, yeah,
Speaker 1: I just completely shut the poor guy down, and he's
Speaker 1: just trying to make our home beautiful. I mean, in
Speaker 1: your defense, every time I go to your house, there's
Speaker 1: something else there that he has purchased from Facebook marketplace.
Speaker 1: There's something to be fair, it's from Facebook marketplace, and
Speaker 1: that's good. And we are still setting up. We did
Speaker 1: not bring much from Pennsylvania to Florida, and most of
Speaker 1: it's necessary or we're not going into debt for it,
Speaker 1: which is great. But then in that process, we've got
Speaker 1: to be pretty vigilant on where are we spending and
Speaker 1: we don't Sky is not the limit over at the
Speaker 1: Siriani house. We don't have money for a three water
Speaker 1: feature at this juncture. But why why if your water
Speaker 1: feature inside your home, why don't you, well, why don't
Speaker 1: you just drink a half glass of wine every night
Speaker 1: from your advent calendar? Because it's just not the best
Speaker 1: thing for us. We've learned to be adults and say
Speaker 1: no to either ourselves or our spouses. Yeah, adulthood, whatever,